Profit surges at McGraw-Hill

City A.M. Reporter
MCGRAW-HILL, which is being sued by the US government for bond ratings issued by its Standard & Poor’s unit, yesterday reported a surge in quarterly adjusted profit and said it does not believe the government can prove its case.

The US financial services and publishing firm’s profit from continuing operations jumped 76 per cent on a surge in debt issuance.

Income from continuing operations rose to $190m (£121.2m) in the fourth quarter from $113m in the same period a year earlier.